January 2019 Everett Rent Report

Welcome to the January 2019 Everett Rent Report. Everett rents remained steady over the past month. In this report, we'll evaluate trends in the Everett rental market, including comparisons to cities throughout the metro, state, and nation.

January 2019 Everett Rent Report

Welcome to the January 2019 Everett Rent Report. Everett rents remained steady over the past month. In this report, we'll evaluate trends in the Everett rental market, including comparisons to cities throughout the metro, state, and nation.

Everett rents increased over the past month

Everett rents have increased 0.1% over the past month, and are up moderately by 3.9% in comparison to the same time last year. Currently, median rents in Everett stand at $1,350 for a one-bedroom apartment and $1,680 for a two-bedroom. Everett's year-over-year rent growth leads the state average of 1.1%, as well as the national average of 0.9%.

Rents rising across the Seattle Metro

Throughout the past year, rent increases have been occurring not just in the city of Everett, but across the entire metro. Of the largest 10 cities that we have data for in the Seattle metro, 9 of them have seen prices rise. Here's a look at how rents compare across some of the largest cities in the metro.

Kent has seen the fastest rent growth in the metro, with a year-over-year increase of 4.6%. The median two-bedroom there costs $1,820, while one-bedrooms go for $1,460.

Over the past month, Marysville has seen the biggest rent drop in the metro, with a decline of 4.0%. Median two-bedrooms there cost $1,640, while one-bedrooms go for $1,320.

Lakewood has the least expensive rents in the Seattle metro, with a two-bedroom median of $1,450; rents fell 0.1% over the past month but rose 3.8% over the past year.

Bellevue has the most expensive rents of the largest cities in the Seattle metro, with a two-bedroom median of $2,320; rents decreased 0.5% over the past month but were up 3.5% over the past year.

Many large cities nationwide show more affordable rents compared to Everett

As rents have increased moderately in Everett, a few large cities nationwide have also seen rents grow modestly. Compared to most large cities across the country, Everett is less affordable for renters.

Rents increased slightly in other cities across the state, with Washington as a whole logging rent growth of 1.1% over the past year. For example, rents have grown by 1.7% in Vancouver and 0.4% in Spokane.

Everett's median two-bedroom rent of $1,680 is above the national average of $1,180. Nationwide, rents have grown by 0.9% over the past year compared to the 3.9% rise in Everett.

While Everett's rents rose moderately over the past year, many cities nationwide also saw increases, including Austin (+3.4%), Phoenix (+3.3%), and New York (+2.7%).

Renters will generally find more expensive prices in Everett than most large cities. For example, Spokane has a median 2BR rent of $880, where Everett is nearly twice that price.

For more information check out our
national report.
You can also access our full data for cities and counties across the U.S. at
this link.

City

Median 1BR price

Median 2BR price

M/M price change

Y/Y price change

Seattle

$1,320

$1,650

-0.4%

0.6%

Tacoma

$1,240

$1,540

-0.3%

1.6%

Bellevue

$1,860

$2,320

-0.5%

3.5%

Everett

$1,350

$1,680

0.1%

3.9%

Kent

$1,460

$1,820

0.5%

4.6%

Renton

$1,650

$2,060

0.3%

3.4%

Federal Way

$1,390

$1,740

-0.4%

2.8%

Auburn

$1,340

$1,670

0.8%

2.0%

Marysville

$1,320

$1,640

-4.0%

-4.0%

Lakewood

$1,160

$1,450

-0.1%

3.8%

Redmond

$1,790

$2,230

0.3%

6.8%

Kirkland

$1,700

$2,110

0.7%

6.5%

Puyallup

$1,520

$1,900

-2.0%

3.1%

Lynnwood

$1,560

$1,940

0.3%

3.7%

Bothell

$1,780

$2,220

-0.2%

5.4%

Mercer Island

$2,020

$2,520

1.0%

5.4%

Kenmore

$1,670

$2,080

-4.2%

-3.0%

Mountlake Terrace

$1,550

$1,940

2.8%

6.6%

See more

Methodology - Recent Updates:

Data from private listing sites, including our own, tends to skew toward luxury apartments, which introduces sample bias when estimates are calculated directly from these listings. To address these limitations, we’ve recently made major updates to our methodology, which we believe have greatly improved the accuracy and reliability of our estimates.

Read more about our new methodology below, or see a more detailed post here.

Methodology:

Apartment List is committed to making our rent estimates the best and most accurate available. To do this, we start with reliable median rent statistics from the Census Bureau, then extrapolate them forward to the current month using a growth rate calculated from our listing data. In doing so, we use a same-unit analysis similar to Case-Shiller’s approach, comparing only units that are available across both time periods to provide an accurate picture of rent growth in cities across the country.

Our approach corrects for the sample bias inherent in other private sources, producing results that are much closer to statistics published by the Census Bureau and HUD. Our methodology also allows us to construct a picture of rent growth over an extended period of time, with estimates that are updated each month.

About Rent Reports:

Apartment List publishes monthly reports on rental trends for hundreds of cities across the U.S. We intend these reports to be a source of reliable information that help renters and policymakers make sound decisions, and we invest significant time and effort in gathering and analyzing rent data. Our work is covered regularly by journalists across the country.

We are continuously working to improve our methodology and data, with the goal of providing renters with the information that they need to make the best decisions.